Suppose you receive $100 at the end of each year for the next three years. The interest

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Suppose you receive $100 at the end of each year for the next three years. The interest rate is 8% per annum (interest paid annually)

Compute the effective 3 years rate (total interest over 3 years) using excel. Hint: EFFECT function is not appropriate for this part as it is often used to compute an effective annual interest rate from a nominal interest rate.

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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: Feb 21, 2024 05:02 AM

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Suppose you receive $100 at the end of each year for the next three years. The interest

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To compute the effective 3 years rate total interest over 3 years using Excel you can follow these s... View the full answer

Personal Finance

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